Cornerstone Sustainable Energy Enters Into First Geothermal Project Development Agreement

Published 2:05 PM ET Mon, 1 July 2013
Globe Newswire

NEW YORK, July 1, 2013 (GLOBE NEWSWIRE) -- Cornerstone Sustainable Energy ("CSE"), (OTCBB:RCVA), has entered into an agreement with Warner Mountain Energy Corporation to begin the first phase of development of a geothermal energy plant to be located at the Surprise Valley Hot Springs in Cedarville, California. This phase of development will include a feasibility analysis, conceptual design, and budgeting to install CSE's PwrCor engine with required site infrastructure to generate electrical power. The electricity generated would be entirely "green". This would be the first installation using the PwrCor engine to generate electricity by using heat from a geothermal resource.

Warner Mountain Energy owns or controls approximately 1000 acres at the Surprise Valley Hot Springs. The site has several artesian hot springs free flowing to the surface, delivering an aggregate of approximately 850 gallons per minute at 205°F. CSE will tap the hot spring water to supply heat to its PwrCor engine. CSE's technology is projected to produce 250 kilowatts of electric power with 150 gallons per minute of water at 180°F. At that level of output, the Surprise Valley Hot Springs site represents a potential estimated at 1.5 megawatts of constant, uninterrupted electric power.

Once online, the PwrCor engine operates at input temperatures and flows that are considerably less than those required by competing technologies. The ability to operate at these lower temperature and flows enables geothermal developers to exploit resources that were previously unusable for the commercial production of electricity. The impact to the geothermal industry could be significant.

About Cornerstone Sustainable Energy, Inc.

CSE is a cleantech company focused on energy infrastructure development projects and delivering alternative energy solutions to a wide range of commercial and not-for-profit customers.

CSE's Forward-Looking Statement Safe Harbor

Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to its ability to raise sufficient financing to implement its growth strategy, successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent report on Form 8-K and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.